Author Topic: 2022 FIRE cohort  (Read 196205 times)

salt cured

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Re: 2022 FIRE cohort
« Reply #700 on: March 10, 2020, 08:41:00 AM »
Come hell or high water I plan on losing my job May '22. I don't know what comes next, except that it's anything but this career.

Arbitrage

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Re: 2022 FIRE cohort
« Reply #701 on: March 12, 2020, 03:11:10 PM »
I moved to the 2021 cohort.  Hoping to stay there, but still need a lot of things to go right over the next 1.5 years.

These things...have not been going right.  Not giving up on 2021 yet, but I'll need a market recovery and a bit of growth besides.

I'm back to 2022!  Certainly not a joyous occasion for me, but I don't see 2021 happening anymore. 

I'll shoot for 7/1/2022.

rachaelandthegoose

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Re: 2022 FIRE cohort
« Reply #702 on: March 14, 2020, 06:10:04 AM »
Come hell or high water I plan on losing my job May '22. I don't know what comes next, except that it's anything but this career.

I'm with you @salt cured. We're continuing with our current jobs until May '22 for very well-considered reasons, but frankly I'm already pretty saddened by how much of my life up to this point has been clocking time in an office, laughing at my bosses' unfunny comedy routines, sacrificing my health and slowly getting older. DH and I both feel that May '22 is the max we're willing to work to. I may work a few months more for a little extra liquid cash if we're in the process of relocated/selling the house, etc, while DH spiffs up the house, but that's it.

If the 'stache isn't where we hope it'll be by May '22, we may move to another area or other jobs. Anything to break this pattern and live more meaningful lives. I was already starting to slowly build up our cash reserves for ER, so I'll keep doing that, but we'll keep putting our normal sums into the market as long as we're both still gainfully employed, too. We're staying the course.

rachaelandthegoose

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Re: 2022 FIRE cohort
« Reply #703 on: March 14, 2020, 06:28:20 AM »
Wishing good health and stout hearts to all my 2022 Cohort brothers and sisters! Spring is almost here!


NAMEAge (at FIRE)FIRE Date
AccidentalMiser 4/1/22
AllieVaulter
AllieVaulter
Arbitrage 7/1/22
arrintonpalmer 6/6/22
asauer432/18/22
aspiretoretire
aspiringnomad
atreechange 2/XX/22
Axecleaver 6/1/22
Baboo 12/31/22
BeardedLady semi-RE?
beer-man
Bgordon
BigHaus89
BlueHouse
Bob W
BriarRose111
Brother Esau
Cadman
Calvawt 7/5/22
CharlesBronzee
cheddarpie
Chuck
Classical_Liberal
cloudsail
countdown
couponvan On smoke break
damize
daschtick
Davids
deadlymonkey
Digital Dogma 12/XX/22
DividendMoney
dougules XMY?
dsw
dude 5/XX/22
eazyebeneezer Summer
eddie
Elle 8
Eurotexan 5/XX/22
Exhale
facelikefizz
faramund 11/1/22
fartface
FI@2022Jem
FIreDrill
fireseeker 4/XX/22
FloridaDad
forestj
freya
friedmmj557/15/22
FrugalFan
FrugalSaver
goat_music_generator 5/XX/22
Gray Matter
HappyCheerE 4/1/22
highlandterrier 7/XX/22
homestead neohio
Hula Hoop
imustachemystash
ItalianGirl
ItsALongStory427/24/22
ixtap 6/XX/22
jalich 2/22/22
Jardeny
Jazzpolice
kendallf
kodokan
kudy 10/XX/22
Ladychips 1LY
Larabeth
living small
Lluviata 12/XX/22
lollylegs 12/22/22
londonbanker 2/22/22
mancityfan
markus
marty998
matchewed 6/XX/22
middo O/TMY?
MMMdude
monarda
morning owl
Mr Zombie
Mrs. Healthywealth
msmarieh
mtnman125
muckety_muck Q1
Mval
NearlyThere
Need2Save 7/15/22
Paul der Krake
phildonnia
PhysicianOnFIRE
Playing with Fire UK
Primm
rachaelandthegoose395/31/22
retireatbirth
Rmt
rob in cal
ronsbusa3 2/22/22
RWD
salt cured 5/XX/22
SDH
Secretly Saving
Seppia
SheWhoWalksAtLunch 2/22/22
sisto
skip207 XMY?
Skyward
Slow road to freedom Q4
SnufferBottle 12/XX/22
steveo
Steveray7071 10/XX/22
Sunstache
Taswegian
TempusFugit
TheAnonOne
TheFixer 1/3/22
TheMadRussian
tipster350
Tortoise Banker 7/1/22
tyd450 6/XX/22
Unique User
Urchina
VolcanicArts
Well Respected Man 2/22/22
whywork 8/XX/22
XC1984 6/1/22
zephyr911
Zikzin

ItsALongStory

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Re: 2022 FIRE cohort
« Reply #704 on: March 14, 2020, 11:01:16 AM »
We planned to sell our house this summer but are actually considering selling sooner now, that excites me as we'd be throwing a hell of a lot of money in the market at this time. This area we live in has all time high real estate prices so it feels like great opportunity to sell one asset class high and buy another low.

Time to get serious with the cleaning, decluttering and painting I suppose :-)


waltworks

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Re: 2022 FIRE cohort
« Reply #705 on: March 14, 2020, 05:40:28 PM »
Anecdotally, a couple of houses just hit the market here in Park City for ~20% less than they would have listed for 6 months ago...

-W

friedmmj

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Re: 2022 FIRE cohort
« Reply #706 on: March 15, 2020, 05:53:33 AM »
Interesting that this 2022 group doesn't seem to have a running list of members.  Does anyone want to start one?  I'm in (jumping over from 2023).

Amazing how much can change in a month.  I seem to have jinxed the market by jumping over from 2023 because it looks now that I might be back there although Iím taking a wait and see approach.  Iím actually mildly concerned about job security for the first time in a long time.  As a high earner in my fifties, I could have a target on my back in any round of layoffs that might arise at Megacorp.  Key date is Jan 1, 2021.  I need to stay employed at least to that date to be able to draw 401k in the year I turn 55 without penalties.

RWTL

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Re: 2022 FIRE cohort
« Reply #707 on: March 15, 2020, 07:52:02 AM »
Interesting that this 2022 group doesn't seem to have a running list of members.  Does anyone want to start one?  I'm in (jumping over from 2023).

Amazing how much can change in a month.  I seem to have jinxed the market by jumping over from 2023 because it looks now that I might be back there although Iím taking a wait and see approach.  Iím actually mildly concerned about job security for the first time in a long time.  As a high earner in my fifties, I could have a target on my back in any round of layoffs that might arise at Megacorp.  Key date is Jan 1, 2021.  I need to stay employed at least to that date to be able to draw 401k in the year I turn 55 without penalties.

We'll take you back in the 2023 group with open arms :)

Everything is on sale at the moment.  Keep pushing as much as you can into the market.  That said, I am mentally prepared for a 50% total drop in the market as the number of cases rise and additional governmental action is put in place.


friedmmj

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Re: 2022 FIRE cohort
« Reply #708 on: March 15, 2020, 12:17:26 PM »

[/quote]

We'll take you back in the 2023 group with open arms :)

Everything is on sale at the moment.  Keep pushing as much as you can into the market.  That said, I am mentally prepared for a 50% total drop in the market as the number of cases rise and additional governmental action is put in place.
[/quote]

Thanks!  I actually plowed $10k into SP500 index fund from bond fund the other day in the 401k and also shifted future contributions to 100% stocks for the time being to gradually pull the allocation back to target level of 50/50.  I also nibbled at a few individual stocks with juicy dividend yields.  Hope we donít see that 50% drop though.  Iím ok with where weíve fallen to now but not looking for any more pain.

Well Respected Man

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Re: 2022 FIRE cohort
« Reply #709 on: March 16, 2020, 07:26:10 PM »
Welp.

Our plan was for me to retire, and my wife to work for a bunch more years for the health insurance benefit. Now, she may end up not able to work at least until a vaccine is available, so I will probably keep working until I get laid off. If that happens, and comes with a decent package (accelerated vesting, severance), it could be earlier than 2022. If it doesn't happen, maybe I'll hold out for another year.

Based on a link in this thread, I've been putting most of my new money into bond funds for a while, and have a decent bond allocation, designed to at least cushion the fall from a crash like this one. I sold a bunch of stock funds a couple of weeks ago, and moved some immediately into a bond fund just before the interest rates really cratered. I bought a small stake in SDY on Thursday near market close, and may do more of that as the market continues to fall.

We are also looking to sell our house, and it's an intriguing idea to put some of that money back into the market instead of rolling it all over into different real estate. We had just about decided to try to do it this year, but the pandemic is going to delay things. We've got some significant fixups to do, so we'll probably start on that when we can, and hopefully not at the usual gouging prices for our area. We may pick up (a) vacation/country/potential rental home(s) at depressed prices, depending on how the market does.

I'll be 57 in 2022, thanks @rachaelandthegoose

ixtap

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Re: 2022 FIRE cohort
« Reply #710 on: March 24, 2020, 03:49:05 PM »
We did it. We went and signed a two year lease that will end June 2022. DH is a top performer at his job and work from home is working for the company. Not the best for DH himself, due to ergonomics and stress causing pain flare ups, but it still isn't as bad as two years ago, when we moved here so that he wouldn't have to commute by car anymore.

It's not like this would be a great time to start sailing all over the world, given that you don't know if you will be allowed in at the next port until we have a handle on COVID.

BigHaus89

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Re: 2022 FIRE cohort
« Reply #711 on: March 25, 2020, 09:18:13 AM »
I am moving up to 6/2020 FIRE date! I am so done with the small mindedness of my current job. However, I am working from home now so it will make this last little push much more bearable!

Playing with Fire UK

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Re: 2022 FIRE cohort
« Reply #712 on: March 25, 2020, 09:29:30 AM »
I am moving up to 6/2020 FIRE date! I am so done with the small mindedness of my current job. However, I am working from home now so it will make this last little push much more bearable!

Great news!!! Well done.

ItsALongStory

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Re: 2022 FIRE cohort
« Reply #713 on: April 05, 2020, 08:30:22 AM »
I have to admit this is a pretty brutal time given the possibility of leaving a well paid job this fall in case my internal job transfer does not happen. We are in a hiring freeze currently but there is an exception process and I've been told that a position I am among the final 2-3 candidates for will be pursuing that exception path. If none of the job transfers pan out then I will quite possibly leave my 6-figure position this fall with about 12-14x annual expenses saved up (assuming no further drop in stock prices) and a plan for both of us to live off my wife's cost of living adjusted retirement income. We have ran the numbers multiple times and are confident we can make it work with about a 20% buffer.

That plan assumes leaving my personal stash (wife is not part of my stash calculations since she has a generous retirement) untouched for about 5-10 years which should ideally build that up nicely. If we do see 8-9% compound returns then the rule of 72 will result in a doubling of my stash in 8-9 years at which point I would probably start drawing down about 2%. Way too many variables to really make a great plan out of it of course but I am feeling a lot more at ease than I was a year ago. It's weird how being able to buy at these discounted rates actually calms me vs the valuations freaking me out.

lollylegs

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Re: 2022 FIRE cohort
« Reply #714 on: April 06, 2020, 12:02:30 PM »
I'm still hoping for 2022 but part of our plan included selling our house & downsizing. I think house prices will drop, so we will most likely stay in our home instead of downsizing. So long as we both keep our jobs we should be OK but in the meantime I've upped the post-tax amount we're investing.

We are both working from home now and I seriously have just had enough of working. I'm over it. Sat through over 4 hours of meetings yesterday that could have been done on 1 hour. Endless justifying that I'm actually working and filling our numerous forms about working from home that all say essentially the same thing and are just there to cover their butt.

 I am so ready to retire! I keep telling myself I've  just gotta keep working the plan.

asauer

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Re: 2022 FIRE cohort
« Reply #715 on: April 24, 2020, 10:10:37 AM »
I'm still hoping for 2022 but part of our plan included selling our house & downsizing. I think house prices will drop, so we will most likely stay in our home instead of downsizing. So long as we both keep our jobs we should be OK but in the meantime I've upped the post-tax amount we're investing.

We are both working from home now and I seriously have just had enough of working. I'm over it. Sat through over 4 hours of meetings yesterday that could have been done on 1 hour. Endless justifying that I'm actually working and filling our numerous forms about working from home that all say essentially the same thing and are just there to cover their butt.

 I am so ready to retire! I keep telling myself I've  just gotta keep working the plan.

It's so interesting how people have had different reactions to working from home.  I love it.  I'm dreading going back to the office.  If I could work remotely from now on I know I could hang in there for another few years.   

ItsALongStory

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Re: 2022 FIRE cohort
« Reply #716 on: April 25, 2020, 07:10:15 AM »
I miss the office cameraderie but admittedly don't need 5 days a week in the office to have that. I live about 7 miles/13mins from the office so the convenience of an optimal desk setup would probably result in going back when it's allowed.

I'm in the middle of pursuing a job transfer so will be interesting to see how the new location (Portugal) deals with it compared to the US currently. I think open offices are doomed to be honest.

billy

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Re: 2022 FIRE cohort
« Reply #717 on: April 25, 2020, 07:13:53 AM »
Portugal, that's a big change. Do you follow Our Rich Journey Youtuber?

ItsALongStory

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Re: 2022 FIRE cohort
« Reply #718 on: April 26, 2020, 07:47:09 AM »
Portugal, that's a big change. Do you follow Our Rich Journey Youtuber?
Yes, don't watch it all the time but we are sort of using their vlogs to vet our budget plans. My wife is pretty eager to try and be the next YouTube vloggers, our situation is quite unique and might resonate. We'll see if that actually happens.

Eurotexan

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Re: 2022 FIRE cohort
« Reply #719 on: April 26, 2020, 04:17:41 PM »
Staying the course but working from home has made me realize how much I want to quit my job! Am considering handing in my notice later this year for a break for a couple of years so not true FIRE. My team has been let go or furloughed so am hating my work even more, I am doing the job of 2 other people and Iíve just about had enough. I am taking every week at a time. Would like to make it until the end of the year so I will know if ACA will survive though. Interesting times for sure!

dsw

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Re: 2022 FIRE cohort
« Reply #720 on: April 30, 2020, 08:42:59 AM »
Sorry to hear your work has gotten worse. I can see how taking on all the work from people being let go would do that.

Conversely, working from home has made work much more tolerable for me. I could keep doing this for awhile without much trouble. I'm not looking forward to being back in the office.

Three observations from my work at home experience . . .

1. I'm a lot more productive when I get bored. Instead of randomly surfing the internet (or reading this site), I get up and do laundry, fix a meal, go for a walk, etc.

2. I eat much better working from home.

3. My spending has plummeted without really trying. I already didn't spend much before this, but wow, I'm down to crazy low amounts of spending now. I figured that it would be pretty easy for me to cut spending if I needed to, but actually seeing the change has given me a lot of confidence that I can make it through any job loss and that my retirement math is probably pretty safe.

I hope everyone is doing ok riding this out. These are strange times . . .

middo

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Re: 2022 FIRE cohort
« Reply #721 on: April 30, 2020, 04:51:23 PM »
Sorry to hear your work has gotten worse. I can see how taking on all the work from people being let go would do that.

Conversely, working from home has made work much more tolerable for me. I could keep doing this for awhile without much trouble. I'm not looking forward to being back in the office.

Three observations from my work at home experience . . .

1. I'm a lot more productive when I get bored. Instead of randomly surfing the internet (or reading this site), I get up and do laundry, fix a meal, go for a walk, etc.

2. I eat much better working from home.

3. My spending has plummeted without really trying. I already didn't spend much before this, but wow, I'm down to crazy low amounts of spending now. I figured that it would be pretty easy for me to cut spending if I needed to, but actually seeing the change has given me a lot of confidence that I can make it through any job loss and that my retirement math is probably pretty safe.

I hope everyone is doing ok riding this out. These are strange times . . .

We are finding much the same as this.  Both my wife and I are teachers, presenting classes from a distance via the internet.  I am happier, as I can have lunch with her, surprise her with a coffee when I feel like it.  When the kids are working and I have not much to do except wait for a question, I find I can do things that I wouldn't normally be able to, and I can put a load of washing in, hang it on the airer, do the dishes etc. during my free periods.

I am also probably a bit more productive in terms of assessment generation and marking.

And our spending has gone down a lot. It does make me reflect that my assumptions of our needs post FIRE may have been a bit high.

friedmmj

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Re: 2022 FIRE cohort
« Reply #722 on: May 01, 2020, 12:36:17 PM »
Staying the course but working from home has made me realize how much I want to quit my job! Am considering handing in my notice later this year for a break for a couple of years so not true FIRE. My team has been let go or furloughed so am hating my work even more, I am doing the job of 2 other people and Iíve just about had enough. I am taking every week at a time. Would like to make it until the end of the year so I will know if ACA will survive though. Interesting times for sure!
Same here.  I know that Iím fortunate to still have a good job, but Iím finding that Iíve lost nearly all motivation to put energy into my work.  Then I feel negative emotions because of the guilt.  I just need out but need to wait for several reasons

TheFixer

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Re: 2022 FIRE cohort
« Reply #723 on: May 14, 2020, 09:28:12 PM »
Hello everyone!
Personal status report:
DW and myself have been crazy busy with work, generating more income in the last 30 days than any other month in memory. No, we are not in the medical field.
I'm just lucky that rich people are sitting home bored, deciding to spend money on their vintage cars. DW is at a charity that is seeing increasing demand and increasing donations.
I've been WFH for 20 years, and she's been WFH since 3/12. DW is really liking it. She told her boss that she's not coming back into the office until there is some combination of testing/therapy/cure/immunization available for humans. Boss says we'll figure something out. DW is hoping to never go back to the office, just give 3mos notice sometime in Jan. of '22.

Another bit of recent luck: I sold my completed project vehicle. Not a big sale, only $17k, but I had $4k in it over the last several years so it feels like a real windfall.
Another, nother bit of luck: DW's elderly parents sent her a "pre-inheritance payment" of $15K. An unexpected and kind act.  Markets may be tanking, but we actually have the cash to take advantage of the big sales on stock funds recently.

Put us down on the master list for 4/22 FIRE date, at age 54.

Stay safe, and be kind. 8^)

nereo

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Re: 2022 FIRE cohort
« Reply #724 on: May 15, 2020, 06:55:42 AM »
Hello everyone!
Personal status report:
DW and myself have been crazy busy with work, generating more income in the last 30 days than any other month in memory. No, we are not in the medical field.
I'm just lucky that rich people are sitting home bored, deciding to spend money on their vintage cars. DW is at a charity that is seeing increasing demand and increasing donations.
I've been WFH for 20 years, and she's been WFH since 3/12. DW is really liking it. She told her boss that she's not coming back into the office until there is some combination of testing/therapy/cure/immunization available for humans. Boss says we'll figure something out. DW is hoping to never go back to the office, just give 3mos notice sometime in Jan. of '22.

Another bit of recent luck: I sold my completed project vehicle. Not a big sale, only $17k, but I had $4k in it over the last several years so it feels like a real windfall.
Another, nother bit of luck: DW's elderly parents sent her a "pre-inheritance payment" of $15K. An unexpected and kind act.  Markets may be tanking, but we actually have the cash to take advantage of the big sales on stock funds recently.

Put us down on the master list for 4/22 FIRE date, at age 54.

Stay safe, and be kind. 8^)

Sounds like you are doing quite well @TheFixer - glad to hear it.

We are all over the map here... big spike down, followed by a spike up.  Now we are doing well for the moment but with a great deal of uncertainty.  Will we hit our FI number in 2022?  ::shrug::

ixtap

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Re: 2022 FIRE cohort
« Reply #725 on: May 22, 2020, 06:47:17 PM »
We are almost exactly two years out. That means that it was time for a six month snapshot and I am happy to report we are up a bit over six months ago. Not quite as much as we have added, but still not quite as close as I expected it to be. To be honest, I just expect that to mean there is still something nasty lurking in the stock market. And I would like to get it over with while we are still accumulating! Right now, though, we are hovering just over FI, so I am glad we didn't lose that status.

DH's company has been really happy with WFH results. His manager doesn't expect anyone to come back until schools are back in session and it seems unlikely that there will ever be pressure to return to campus full time.

Our new two year lease starts next month. We signed early so that it wouldn't be hanging over us when we went on a month long vacation right now - haha, joke is on us.

ItsALongStory

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Re: 2022 FIRE cohort
« Reply #726 on: May 23, 2020, 02:11:33 PM »
Ordered some FSBO signage today, it's getting real ...

We feel like we'd like to get out of the house before the housing market starts tanking. No prospects as far as a job at this stage, might shift to a sabbatical if nothing pans out.

skip207

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Re: 2022 FIRE cohort
« Reply #727 on: May 26, 2020, 02:59:43 PM »
Had a long sit down with our accountant and a long discussion with the DW and we are pushing ahead for 2022.

Maybe early 2022. 

There were some things I had not considered in terms of money in the business which I never counted as my NW but now itís been explained then any shortfall we might have on our number of 850k will probably be made up.

Itís not set in stone but my accountant says 18 months or so and we should be in a position to RE. 

Head down now for a year and hopefully we will have a better idea of exact timings around this time next year.

ItsALongStory

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Re: 2022 FIRE cohort
« Reply #728 on: May 26, 2020, 08:05:16 PM »
Always nice to get validation from someone else, congrats on getting that clarity. It'll be here sooner than any of us expect so better start preparing :-)

asauer

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Re: 2022 FIRE cohort
« Reply #729 on: June 04, 2020, 02:56:13 PM »
Ordered some FSBO signage today, it's getting real ...

We feel like we'd like to get out of the house before the housing market starts tanking. No prospects as far as a job at this stage, might shift to a sabbatical if nothing pans out.

Good idea with the house.  Sending you good vibes to sell quickly and for a great price!

RainyDay

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Re: 2022 FIRE cohort
« Reply #730 on: June 05, 2020, 10:58:05 AM »
Glad to have found my peeps!  I started reading MMM last fall and have made some significant changes since then.  Planning to partial-FIRE in Dec 2022.  I'll be 50, so I won't be super-young, but certainly better than waiting til 60, which was my original plan. 

ixtap

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Re: 2022 FIRE cohort
« Reply #731 on: June 05, 2020, 11:14:35 AM »
Glad to have found my peeps!  I started reading MMM last fall and have made some significant changes since then.  Planning to partial-FIRE in Dec 2022.  I'll be 50, so I won't be super-young, but certainly better than waiting til 60, which was my original plan.

If we end up waiting until the end of the year, I will also be 50! However, DH is younger and I haven't worked for pay since we moved two years ago. Every time I think I should look for work, one if gets broken again, or most recently, the whole world gets broken.

WSUCoug1994

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Re: 2022 FIRE cohort
« Reply #732 on: June 05, 2020, 11:18:41 AM »
Even after all of the 2020 drama - I am still planning on 12.31.22.  Keeping an open mind on how things pan out but this has been my target since 2013.

SuperSecretName

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Re: 2022 FIRE cohort
« Reply #733 on: June 05, 2020, 12:17:52 PM »
I think I'm ready to join and start counting down.  I'm a single dad of two teens (full custody), and my oldest will be graduating high school in 2022.  The younger one is a year behind.

My plan is to quit in the Spring (date TBD).  The financial reasoning behind that is I can max out 401k contributions, and by making it to late-spring, I'd be eligible for a company dividend the following year (company is privately held).  I need to make 1000 hours of service (I think), and accumulated vacation counts (of which we can carry forward 500 hours annually, and I will have 500).  So that puts me April-Mayish.  My regular income is over the limit for the American opportunity tax credit for college, so want to make sure I stay under that limit for the full $2k credit.

For healthcare, I plan to use Obamacare, and will need some income for the year.  So just staying at the job for the first part of the year makes the most sense.  That will give me time to settle in and prepare my income strategy for 2023.

I am currently looking to buy a 4 bed split-level house now(3 up, 1 down); I rent now.  These are pretty popular in my area.  The plan is to rent out the bottom level once both kids are gone.  This way, they'd each still have their own room when they come home, but I can still get some income to help with the mortgage.  I also wouldn't mind having someone else around when they both are gone. With renting out the room, I think I can get my monthly cost down to around 1500.  This is the biggest unknown and the biggest risk to my budget.

The kids will go in-state and I have about 2.25 years saved for each in 529s right now.  That will increase with the market improvement and future contributions the next few years.  I was 50% bonds for them, but switched to 100% equities at the bottom.  I timed it incredibly well (pure luck).

I think my plan will be to just hang out with the kids and decompress for the summer.  Maybe take a nice long trip as a final trio before the oldest goes off.

I was/am a software engineer, so am thinking that after a few months, I'll teach myself how to code Android/iPhone apps.  It will serve as something to do for a few hours a day, and give me a marketable skill in case my plan blows up.  I do not plan to continue coding part-time for retirement income.  I plan to exercise and cook more, maybe doing something with my hands.  Maybe work on classic cars, or home improvement stuff (neither of which I am good at right now).  Maybe pick up another rental or two.  No solid plans yet.

Current NW = 1.3MM.  Allocation is about 50% equities, 20% art, 10% private loan, 10% company stock/vacation, 5% BTC, 5% RE.  I have cash in there somewhere, but threw a lot at the market the past few months.  So, will build my cash reserves back up a bit the next two years.  I was waiting for a market drop/recession to come before starting my countdown, so that I could plan for when it was over.  And here we are with that.

I'll be 40 in 2022.  I'd love to be able to get out before my birthday in Feb just to say "retired before 40," but don't think I'll make it that early in the year for reasons outlined above.

That was longer than I thought it would be when I started :)
« Last Edit: June 05, 2020, 01:38:46 PM by SuperSecretName »

marty998

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Re: 2022 FIRE cohort
« Reply #734 on: June 06, 2020, 04:58:11 PM »
Glad to have found my peeps!  I started reading MMM last fall and have made some significant changes since then.  Planning to partial-FIRE in Dec 2022.  I'll be 50, so I won't be super-young, but certainly better than waiting til 60, which was my original plan. 

50 is still young! and gives you 10 more years than you thought you had. That's huge!

@SuperSecretName you've done really well to get to where you are as a single dad. Curious about the art... how do you value that? How will you monetise it? Or are you just going to keep it forever?

SuperSecretName

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Re: 2022 FIRE cohort
« Reply #735 on: June 06, 2020, 06:24:50 PM »
Curious about the art... how do you value that? How will you monetise it? Or are you just going to keep it forever?
I pay attention to the auctions at places like Christies and Sothebys.  75% is Banksy, and that market is very liquid.  I also give myself a 10% haircut in my calculations, to allow for errors in my valuation.  I'd rather be surprised to the upside.  There is definitely a grey area of value - more like a range depending on how/where/when it's sold.

I might trim the collection a bit when I retire.  But, as long as the works are appreciating, and I don't need the money, I'm going to let it ride.  It'll just be like Berkshire Hathway; always increasing in value but never paying a dividend.  But if the stock market is down and I want to raise some cash, I could see myself selling an item or two instead of stocks.

marty998

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Re: 2022 FIRE cohort
« Reply #736 on: June 07, 2020, 05:02:28 PM »
Is the haircut more than 10%? I heard the auction house fee for selling can be as high as 20%?

marty998

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Re: 2022 FIRE cohort
« Reply #737 on: June 07, 2020, 05:15:06 PM »
My name is in this long list of 2022 cohort people. I must have added it years ago as a wild guess and lost track of this thread.

My spreadsheet calcs say Iíve got $600,000 of net investment assets, which theoretically derive $24,000 of income at that 4% rule, which basically covers my annual basic living costs.

Iíll take that as a win for now.

Total net assets including the apartment I live in and retirement accounts are $1.42m.

In the almost eight years Iíve been on the forum my net assets have gone up from a starting point of $300k. Thatís quite amazing to think about what the next eight years could be starting from a much higher asset base and a much higher salary. Especially since I donít think Iíll walk away from work. Almost scared to put a figure on it!

SuperSecretName

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Re: 2022 FIRE cohort
« Reply #738 on: June 07, 2020, 07:05:23 PM »
Is the haircut more than 10%? I heard the auction house fee for selling can be as high as 20%?
At auction, it's the buyer that pays the 25% fee.  For those who sell the items, the fees are a lot lower (don't know what they are exactly, but not 20%).  The 10% is just for myself to make sure I'm not completely overestimating what my take home would be.

marty998

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Re: 2022 FIRE cohort
« Reply #739 on: June 07, 2020, 08:51:31 PM »
Is the haircut more than 10%? I heard the auction house fee for selling can be as high as 20%?
At auction, it's the buyer that pays the 25% fee.  For those who sell the items, the fees are a lot lower (don't know what they are exactly, but not 20%).  The 10% is just for myself to make sure I'm not completely overestimating what my take home would be.

Cool, not that I'd ever probably buy art, but it's nice to learn something :)

RainyDay

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Re: 2022 FIRE cohort
« Reply #740 on: June 08, 2020, 07:49:15 AM »
Glad to have found my peeps!  I started reading MMM last fall and have made some significant changes since then.  Planning to partial-FIRE in Dec 2022.  I'll be 50, so I won't be super-young, but certainly better than waiting til 60, which was my original plan.

If we end up waiting until the end of the year, I will also be 50! However, DH is younger and I haven't worked for pay since we moved two years ago. Every time I think I should look for work, one if gets broken again, or most recently, the whole world gets broken.

Same here -- my SO is 6 years younger.  I'm still planning to work 2-3 days per week once I hit 50, partly to keep health insurance and partly to give me structure.  I worry about getting sloth-like!  BUT because money will no longer be a motivating factor, and I chose what I want to do and where (no more hellish commutes!). 

ixtap

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Re: 2022 FIRE cohort
« Reply #741 on: June 19, 2020, 08:44:11 PM »
DH was recently approached about leading a project and asked if he could commit to two years.

"Sure, but I will likely be requesting an extended leave after that."

"We could probably swing that."

So now he has this (vague, perhaps easily forgotten) plan to just string together an extended leave every year or so until they won't have him back. We can just have the boat delivered to the next destination. I mean, I guess it isn't the worst plan? But some of the details of it involve not having a place to live, so between short term housing (or an RV!) and boat deliveries, I am not sure how much financial benefit there would be.

I used to be a workaholic, too, but I am in recovery and he hasn't quite admitted that he has a problem (that is, his problem isn't that he is a workaholic, it is that his body shuts down and won't let him work much more than 100 hours a week).

Need2Save

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Re: 2022 FIRE cohort
« Reply #742 on: June 20, 2020, 06:04:15 AM »
Good to see many of the cohort still on track for 2022!

@Rachelandthegoose - on the next update please change me from 7/15/20 to 5/15/20. Thanks!

Echoing the work from home effects stated above, however, I think it's been rather pleasant not to have to drive to work 30 miles each way and has certainly made the last three months go by with less hateful feelings towards work. I could def. keep the work from home thing going as long as they let me. Just had to swing by the office a couple times to pick up certain things and check for snail mail. I'm dreading the obligation to be there 5 days a week when work deems this to be in their best interest again (not mine).  But hey, I'm under two years to go now!  I can grin and bear it.

In craptacular fashion, my DH's job announced they would delay employee merit and promotion increases they had already informed employees they were receiving in April.  They haven't lost any business during the crisis, so the reasoning is very poor and convenient for them. He is hoping they get to the point of making some layoff plans for unrelated reasons and he could raise his hand for a package. That would be really awesome for him but I'm doubtful it will play out the way he is hoping for.  We've so far been able to still save as much as we had projected with his disappearing increase due to other costs going down like gas for the car. So it's not effecting us much for our goals.  They first said it was 'delayed' until July, now they said it won't be coming until sometime in 2021.  So basically everyone's salary is frozen again. They did this back in 2009/2010 as well.  All this while the younger programmers are leaving for significantly better pay in droves. They just don't get it. He may be getting off a sinking ship just in time.

HappyCheerE

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Re: 2022 FIRE cohort
« Reply #743 on: June 28, 2020, 01:09:22 PM »
I haven't been on the forums much and keep forgetting to post back - @rachaelandthegoose, you can take me off the list as I've given notice and stepping down from my job in early August 2020! Only six weeks!!! I will continue to work for them ~5 hours a week, which means I can keep the bits I enjoy the most, and if goes pear-shaped I can bail, but that's yet another little safety net. And we're over our target so I'm feeling confident we'll be fine no matter what happens - and right now it sure feels like all kinds of bad could. Which is in itself more of a motivation to get out and a) enjoy whatever is left and b) try to help however I can.

So much good luck and very best wishes to this cohort! I'm rooting for you all!

rachaelandthegoose

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Re: 2022 FIRE cohort
« Reply #744 on: June 28, 2020, 06:11:47 PM »
Got it, @HappyCheerE  , you are off the list, and I'm glad it's for the best of reasons! Congratulations and good luck! :)

@Need2Save - I've updated your date. There haven't been a ton of changes/additions overall, but if anyone wants the latest list posted, let me know and I can re-post at any time.

ItsALongStory

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Re: 2022 FIRE cohort
« Reply #745 on: June 28, 2020, 11:25:13 PM »
Ill let you know soon. Interviewing for a role and if I don't get it we will shift to a sabbatical late this year with a remote chance I can never work again. My wife has a government pension and we plan to travel quite a lot within that budget.

friedmmj

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Re: 2022 FIRE cohort
« Reply #746 on: July 02, 2020, 06:43:32 AM »
Ill let you know soon. Interviewing for a role and if I don't get it we will shift to a sabbatical late this year with a remote chance I can never work again. My wife has a government pension and we plan to travel quite a lot within that budget.

I'm affirming my 2022 timing and moving up the date to 3/11/22!

friedmmj

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Re: 2022 FIRE cohort
« Reply #747 on: July 02, 2020, 06:55:15 AM »
Anyone else on track to hit FI in 2022? I'm 7 yrs and 1m out from my date and it seems so far away! DH and I are continuing to look for fat to trim, but no matter how I rerun the scenarios, I can't safely RE before 2022. Anyone else in a similar boat?

How do you stay in the moment and enjoy life while also keeping focused on optimizing your savings rate? Lately, I've been baking more and hiking with the kids and scheduling the occasional morning or afternoon off work.
It's been 5 years since our founder 'countdown' started this thread!  I've noticed he hasn't posted since 2015.  I wonder what happened to him/her.
« Last Edit: July 02, 2020, 06:57:39 AM by friedmmj »

highlandterrier

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Re: 2022 FIRE cohort
« Reply #748 on: July 03, 2020, 11:47:54 AM »
Can I be removed from the roster please , I'm OLYing into 2021 :)

friedmmj

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Re: 2022 FIRE cohort
« Reply #749 on: July 03, 2020, 04:59:00 PM »
Can I be removed from the roster please , I'm OLYing into 2021 :)

Congratulations!